The City of Edgar reports the following revenues for the fiscal year (all numbers in $1,000s):

Real estate and personal property taxes	$119,944
Motor vehicle and other excise taxes	6,248
Grants and contributions not restricted	6,149
Total general revenues and transfers	$132,341

The City also reports the following revenues from fees it charges for services and operating grants and contributions it has received during the year as well as expenses it has incurred, categorized by governmental activity:

Functions/Programs	Charges for services	Operating Grants and Contributions	Expenses
Primary government
Governmental activities
General government	$594	$981	$11,794
Public safety	1,989	521	13,939
Education	1,848	9,348	97,761
Public works	147	330	5,863
Human services	1,439	233	3,406
Library	112	163	2,187
Pension and benefits	-	5,540	9,361
Interest	-	-	2,158
Total governmental activities	$6,129	$17,116	$146,469

The City manages two business-type activities: a sanitation department which oversees solid and liquid waste disposal and a municipal pool. Both of these activities charge users a fee that is set at the beginning of the year at a level that is anticipated to cover the costs of providing the service. These fees cannot be changed during the year. As a result, these activities may produce a net profit or loss for the year, depending on the level of operating costs. The revenues and expenses for these services are provided in the following table:

Functions/Programs	Charges for services	Expenses
Business-type activities:
Water and sewer treatment center	$7,817	$5,766
Municipal airport	5,887	4,652
	$13,704	$10,418

Prepare the City of Edgar Statement of Activities for the year (assume a beginning balance for Net Position of $379,401 for Governmental activities and $60,168 for Business-type activities).

City of Edgar Statement of Activities ($ in 1,000s)
	Expenses		Charges for Services		Operating Grants and Contributions		Government Activities		Business Type Activities		Total
Primary Government
Governmental Activities:
GENERAL GOVERNMENT
PUBLIC SAFETY
EDUCATION
PUBLIC WORKS
HUMAN SERVICES
LIBRARY
PENSION & BENEFITS
INTEREST
TOTAL GOVERNMENTAL ACTIVITIES
Business-Type Activities:
WATER AND SEWER TREATMENT CENTER
MUNICIPAL AIRPORT
Total business type activities
Total Primary Government
General Revenues:
REAL ESTATE AND PERSONAL PROPERTY TAXES
MOTOR VEHICLE AND OTHER EXCISE TAXES
GRANTS AND CONTRIBUTIONS NOT RESTRICTED
TOTAL GENERAL REVENUES AND TRANSFERS
Change in Net Position
Net Position:
Beginning of Year
End of Year

Answer rating: 100% (QA)

City of Edgar Statement of Activities Charges Operating cbad Business Expenses a for Grants Governme... View the full answer